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HindustanTimes Fri,19 Sep 2014

Adani Power stops electricity supply to Haryana

HT Correspondent, Hindustan Times  Chandigarh, August 29, 2014
First Published: 12:16 IST(29/8/2014) | Last Updated: 12:17 IST(29/8/2014)

Private sector power generation company M/s Adani Power Ltd, which has an agreement with Haryana power utilities for supply of electricity, has stopped supplying 1,424 MW power to the utilities since August 27. Utilities spokesperson said that Adani has stopped supplying power despite being paid all dues.
 
It said that utilities have already provided a letter of credit as a primary payment security mechanism.

The company has also asked the utilities to open an escrow account on August 26 which was also opened. The Central Electricity Regularity Commission had awarded a compensatory tariff over and above the normal tariff (about 61 paisa per unit) to Adani, which was challenged by Haryana government in the appellate tribunal.

The appellate tribunal in its interim order had stayed the recovery of past dues only and allowed current charges as per actual from March 2014 onwards. The spokesperson said that the tribunal interim order was also challenged in the Supreme Court by Haryana and the tariff increase claimed by Adani was disallowed and stayed by the Apex court.

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